In this article, I will go through the weekly dividend increases and cuts in popular and well-known stocks. (Member of The Dividend Champions or Canadian All-Star list)
Recently, 6 companies announced dividend increases and one announced a dividend cut.
The table below summarises the dividend change announcements. The table shows the current dividend, the new dividend and the percentage increase (%). Dividends are shown on an annual basis and in US dollars unless otherwise stated. Yield is the new dividend yield of the most recent price, and Years is the years of consecutive dividend increases.
Lakeland Financial Corporation (LKFN)
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans. Lakeland Financial Corporation was founded in 1872 and is headquartered in Warsaw, Indiana.
On January 10, LKFN announced a quarterly dividend of $0.46 per share.
This is a 15.0% increase from the prior dividend of $0.40.
Payable February 6 for shareholders of record January 25 ex-div January 24.
STAG Industrial, Inc. (STAG)
STAG Industrial, Inc. (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.
On January 11, STAG announced a monthly dividend of $0.1225 per share.
This is a 0.7% increase from the prior dividend of $0.1217.
Payable February 15 for shareholders of record January 31 ex-div January 30.
Apogee Enterprises, Inc. (APOG)
Apogee Enterprises, Inc. designs and develops glass and metal products and services in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The company was incorporated in 1949 and is based in Minneapolis, Minnesota.
On January 12, APOG announced a quarterly dividend of $0.24
This is a 9.1% increase from the prior dividend of $0.22.
Payable February 15 for shareholders of record January 31 ex-div January 30.
Algonquin Power & Utilities Corp. (AQN)
Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The company was incorporated in 1988 and is headquartered in Oakville, Canada.
On January 12, AQN announced a quarterly dividend of $0.1085
This is a 40% decrease from the prior dividend of $0.1808.
Expected to be payable in April 2023.
ATCO Ltd. (TSE:ACO.X)
ATCO Ltd., together with its subsidiaries, provides housing, logistics and transportation, agriculture, water, real estate, and energy and energy infrastructure solutions in Canada, Australia, and internationally. The company offers workforce and residential housing; modular facilities; construction and site support; workforce lodging; facility operations and maintenance; defense operations; and disaster and emergency management services. ATCO Ltd. was founded in 1947 and is headquartered in Calgary, Canada. ATCO Ltd. operates as a subsidiary of Sentgraf Enterprises Ltd.
On January 12, ACO announced a quarterly dividend of C$0.4756
This is a 3.0% increase from the prior dividend of C$0.4617.
Payable March 31 for shareholders of record March 2 ex-div March 1.
Canadian Utilities Limited (TSE:CU)
Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, and retail energy businesses in the United States, Australia, and internationally. It operates through Utilities, Energy Infrastructure, and Corporate & Other segments. The company was incorporated in 1927 and is headquartered in Calgary, Canada. Canadian Utilities Limited is a subsidiary of ATCO Ltd.
On January 12, CU announced a quarterly dividend of C$0.4486
This is a 1.0% increase from the prior dividend of C$0.4442.
Payable March 1 for shareholders of record February 2 ex-div February 1.
Gladstone Land Corporation (LAND)
Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 127 farms, comprised of approximately 94,000 acres in 13 different states, valued at approximately $1.0 billion.
On January 10, LAND announced a monthly dividend of $0.0459
This is a 0.2% increase from the prior dividend of $0.0458.
Payable January 31 for shareholders of record January 20 ex-div January 19.
Archive of Dividend Increases
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